Business performance should be evaluated to measure the achievement of an organization's objectives.The dairy industry has focused its efforts on technological development and productivity, but it requires to consolidate itself in organizational and business management terms, if it is to face the challenges derived from free trade.For this reason, we wanted to answer the research question: how are the structural relationships between the determining factors of business performance in the Colombian dairy industry?Information from 236 businesses in the department of Antioquia, Colombia was analyzed using a structural equation model and the predicted values for business performance and the variables that comprise it were calculated.According to the findings, the dairy sector needs to increase its business performance, which is mainly determined by process efficiency and business productivity.